According to a White House spokesman, US President George W. Bush has canceled a planned visit to Alabama and Florida to focus on the Wall Street financial crisis.

US President George W. Bush has canceled a planned visit to Alabama and Florida on Thursday to focus on the Wall Street financial crisis, a White House spokesman said late on Wednesday.

Bush is remaining in Washington to continue working with his economic advisers on the serious challenges confronting the US financial markets, White House spokesman Tony Fratto told reporters in a conference call.

"The health of our financial markets is critical to the nation's economy, and the president remains focused on taking action to stabilize and strengthen our markets and to restore investor confidence," Fratto said.

Fratto said Bush would be meeting with his economic advisers at the White House.